HCI Group (HCI) Announces Proposed Public Offering of Common Stock

HCI Group, Inc. (NYSE: HCI), a holding company with operations in homeowners insurance, information technology services, real estate, and reinsurance, announced today that it has commenced an underwritten public offering of 1,000,000 shares of its common stock. All of the shares are being offered by HCI Group. In addition, HCI Group expects to grant the underwriters a 30-day option to purchase up to an additional 150,000 shares of its common stock sold in the public offering at the public offering price, less underwriting discounts and commissions. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

JMP Securities, A Citizens Company, is acting as lead book-running manager for the offering, and Truist Securities is acting as joint book-running manager.

HCI Group intends to use the net proceeds from the offering, if completed, for general corporate purposes, including the continued assumption of policies from Citizens Property Insurance Corporation.

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